The Liquidity Theory of Asset Prices

Gordon Pepper, Michael J. Oliver

184 pages, parution le 24/02/2006

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Résumé

Professional investors are bombarded on a day to day basis with assertions about the role liquidity is playing and will play in determining prices in the financial markets. Few, if any, of the providers or recipients of such advice can truly claim to understand the well-springs of such liquidity and the transmission mechanisms through which it impacts asset prices.

This groundbreaking new book explores the belief that at the core of liquidity there is a force which exerts individuals to effect a financial transation when they would not otherwise do so. Understanding this force of complusion is a key to understanding a financial market when it appears to be behaving irrationally. This book will enable new and seasoned investors tp develop an understanding of the factors, so that costly mistakes can be avoided without the lesson of experience.

Sommaire

The Liquidity Theory
- Types of Trades in Securities
- Persistent Liquidity Trades
- Extrapolative Expectations
- Discounting Liquidity Transactions
- Cyclical Changes Associated with Business Cycles
- Shifts in the Savings Demand for Money
Financial Bubbles and Debt Deflation
- Financial Bubbles
- Debt Deflation
Elaboration
- Creation of Printing-press Money
- Control of Fountain-pen Money and the Counterparts of Broad Money
- Modern Portfolio Theory and the Nature of Risk
- Technical Analysis and Crowds
- The Intuitive Approach to Asset Prices
- Forms of Analysis
Evidence and Practical Examples
- The UK Markets Prior to 1972
- The US Equity Market 1960-2002
- Two Forecasts
- Debt Deflation, Practical Experience
- Monitoring Current Data for the Monetary Aggregates
- Monitoring Data for the Supply of Money
- The Different Sectors of the Economy

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Caractéristiques techniques

	PAPIER
Éditeur(s)	Wiley
Auteur(s)	Gordon Pepper, Michael J. Oliver
Parution	24/02/2006
Nb. de pages	184
Format	16 x 23,5
Couverture	Relié
Poids	415g
Intérieur	Noir et Blanc
EAN13	9780470027394
ISBN13	978-0-470-02739-4